If you own a home in Pennsylvania, you may already know that Homeowner’s Insurance is important. However, you may not actually have this type of insurance yet because you don’t really know all the benefits that it can give you. One important thing to keep in mind is that your mortgage provider will almost always have a requirement written into your mortgage loan that states you have to buy homeowners insurance in order to stay in good standing with the mortgage. Mortgage providers consider this important because it means that the home owner will have a true sense of investment in their home and will be less likely to default on their mortgage when they know that everything on their property is protected from disaster.
Having Homeowner’s Insurance means that you will have insurance coverage that protects your house and your land. Usually a policy will include all of the structures on the land, for example tool sheds or green houses, but it is very important that you discuss exactly what your policy includes with your insurance agent because sometimes the policy will only cover the primary residence itself.
The homeowners policy will also encompass the contents of the house in most cases. This will usually include all your furniture, your electronics, your clothing, and most personal possessions. In some cases you may feel that the coverage is inadequate for a specific item that you own, for example you might have a valuable stamp collection that would not be covered. In this case, you need to ask your insurance agent about how you can get the coverage that you need for that item. This will usually be in the form of an insurance rider that will just cost a little bit extra every month. If you have concerns about any of your property not having enough home insurance coverage, it is always best to talk about this right now rather than waiting until after a loss.
Don’t take a chance on having a disaster in your home while you are not covered by a good homeowners policy. Insurance providers like Olsommer Clarke Insurance Group, Inc. can work with you to design the policy that works best for your needs and for your budget today!